LOUISVILLE, Ky. (AP) – Agricultural economists say Kentucky’s farm cash receipts stayed relatively stable this year, due in part to continued gains in the horse and poultry industries.
The University of Kentucky ag economists said Thursday that higher yields for most crops helped offset lower prices hitting some sectors.
They say statewide ag cash receipts in 2018 are forecast at $5.7 billion, matching last year’s level. But the projection remains well below the record statewide high of $6.5 billion in 2014. And the economists don’t foresee a rebound in Kentucky’s ag cash receipts next year.
Kentucky’s renowned horse industry is expected to lead the pack with a 10 percent increase in cash receipts this year. But poultry production is expected to keep its perch as Kentucky’s top agricultural enterprise, accounting for 21 percent of projected 2018 sales.